Are you in compliance?

Don't miss out! Sign up today for our weekly newsletters and stay abreast of important GRC-related information and news.


Status message

Start your free, no obligation 5-day trial to continue exploring with full access.

Moody's Questions Ability To Audit Around Deficiencies

Leech Tim | December 7, 2004

In October 2004, Moody’s Investors Service opened a Pandora’s Box with the issuance of a special comment paper titled “Section 404 Reports on Internal Control: Impact on Ratings Will Depend on Nature of Material Weaknesses Reported.”

With the start of the first Sarbanes-Oxley reporting season just around the corner and more than 500 public confessions of material control weaknesses already filed by SEC registrants, the technical flaws of the external auditing profession are slowly, but steadily, being exposed to harsh public scrutiny.

Moody's Categories

The Moody’s special comment paper outlines how Moody’s credit rating arm will react to material weakness disclosures on internal control from SEC registrants (see box below, right for complete document)...

Read this single article for $49, or click the subscribe button below to review subscription options.

Enjoy unlimited access to thousands of articles, browse five years of digital magazines, qualify for reduced admission to events, and more.